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Author Topic: I have free electrcity i can use,, is mining still profitable?  (Read 680 times)
guysuave64
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October 30, 2013, 03:42:09 PM
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Hi i have about 2000 Watts which i can use freely without having to pay for it, everything is legally, so is mining then still profitable in this period, and how much would i need to spend on ASIC to use about 2000 watts. Since im not looking for efficiency because i dont have a electric bill but im more interested in cheap inneficient hardware
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Birdy
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October 30, 2013, 04:45:02 PM
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The biggest costs of mining are the hardware and the risks (scams, delays) of purchasing them.
Maybe, just maybe if you have a good and secure offer for mining equipment and the difficulty doesn't rocket too much.
(-> most likely not)
pontiacg5
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October 30, 2013, 05:29:14 PM
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Even with free electricity you don't really have much of an advantage on anyone...

Unless you already had the hardware in hand  Wink

Please DO NOT send me private messages asking for help setting up GPU miners. I will not respond!!!
tescomatty
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October 30, 2013, 05:33:03 PM
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Even with free electricity you don't really have much of an advantage on anyone...

Unless you already had the hardware in hand  Wink


True, cost is biggest risk.

Eighter wait few months or use your GPU for altcoin mining

tescomatty
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October 30, 2013, 05:47:30 PM
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Since im not looking for efficiency because i dont have a electric bill but im more interested in cheap inneficient hardware


It is hard to buy cheap inneficient hardware, because electricity cost to run inneficient ASIC (BFL, Avalon) is only small fraction of mined BTC

At least now

passipapa
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October 30, 2013, 10:25:54 PM
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With free electricity i would mine scrypt coins because the gpus need a lot of power.

DGC : DHhG9FpTYFb3P3Yx55cn2UmNUmWN9SsDdH
ARG : AcAjbDjPCG6fefdYBD9cJcgbxzNQbyG8BW
zubelutte
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October 30, 2013, 10:42:07 PM
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With free electricity i would mine scrypt coins because the gpus need a lot of power.

It might take take one year to pay your GPU card even with free electricity, but it might be nice to pay the hardware itselves while mining

The only drawback is you constantly need to pay attention to you rigs
sirlev
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November 01, 2013, 02:33:00 AM
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I thought about hiding a miner under my desk @ work, but then I realized the sound of 4 or 5 GPU fans screaming would make it hard for me to talk on the phone and you know...do my job.  Not to mention having to figure out an explanation and justification for essentially stealing electricity from my boss....
Andrew Thomas
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November 01, 2013, 03:39:45 AM
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Hi i have about 2000 Watts which i can use freely without having to pay for it, everything is legally, so is mining then still profitable in this period, and how much would i need to spend on ASIC to use about 2000 watts. Since im not looking for efficiency because i dont have a electric bill but im more interested in cheap inneficient hardware


You would need a system in hand today, or before Jan 2014, with a capacity of over 250GH/s.
nahtnam
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November 01, 2013, 05:47:17 AM
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If you have free electricity then you would need over $2000 dollars to get a good enough miner to reach roi!

pontiacg5
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November 01, 2013, 01:44:40 PM
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I thought about hiding a miner under my desk @ work, but then I realized the sound of 4 or 5 GPU fans screaming would make it hard for me to talk on the phone and you know...do my job.  Not to mention having to figure out an explanation and justification for essentially stealing electricity from my boss....

I ran my quad 7970 rig at work for a while. Don't underestimate how hot a gpu rig can make an office! Noise pollution doesn't bother us here, but not too many were happy about the heat...

Now it warms my house, since it's cold  Grin

Please DO NOT send me private messages asking for help setting up GPU miners. I will not respond!!!
Aspen
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November 01, 2013, 01:52:10 PM
 #12

Cost isn't  big risk if you invest in altcoin rig - you'll  buy usable hardware(CPU, VGA, MB, PSU)  which  you can easily sell later.
If you find used hardware things are even better.

My advice - invest bravely and don't worry!
Omikifuse
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November 01, 2013, 02:29:40 PM
 #13

I believe you can buy asic but not now. Get those 2 Ths which would come out in few months time. They do eat lots of energy.

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